Lenders are rated using a calculated overall score based on affordability, eligibility, customer service and other factors. The highest scoring lenders were identified in each category. Ratings are prepared by U.S. News staff. Ratings have not been reviewed or approved by advertisers.
- People who need specialty or no-money-down loans
- People who prefer to work with a loan officer rather than online
- People who want to borrow up to $3 million for a primary residence
Northpointe offers a number of home loan programs, each with their own qualifications. For example, FHA loans allow for a lower minimum credit score than conforming loans. Northpointe’s jumbo mortgage program requires a minimum score of 660, which is considered low for this kind of home loan.
Northpointe offers niche products designed to solve specific issues – for instance, a nonwarrantable condo or recent bankruptcy. In general, though, you’ll need to prove that you can afford whatever loan you get. That generally means a debt-to-income ratio of 43% or lower. FHA loans allow DTI over 50% for certain borrowers, and other programs may allow highly qualified applicants to exceed the 43% threshold.
Because this lender offers so many loan types, you’ll probably want to consult with a loan officer to determine what options are available to you and how to qualify.
NMLS #447490
Northpointe Bank, headquartered in Grand Rapids, Michigan, provides home loans and retail banking products, like CDs, savings accounts and money market accounts. The lender is well rated for its customer service but discloses few details about rates or qualifications on its website.
To apply for a home loan with Northpointe Bank, you can begin by filling out a prequalification form online.
- Share your basic information, including your intended home loan amount, state and estimated credit score.
- A loan advisor will contact you to discuss your home loan options and provide a rate quote.
- Upload documents, such as bank statements and pay stubs, with guidance from your loan advisor through the Northpointe Home web app.
- Northpointe underwrites your loan. You can track your application’s progress online. Your loan officer will message you with updates or requests for additional documents or information.
- Once you have final approval, the closing team will prepare your paperwork and schedule closing.
Northpointe doesn’t disclose any discount or bonus programs on its site.
Northpointe Bank has a 2.6 star rating on TrustPilot, mainly due to problems with the customer service phone line. It does not have any listings within the Consumer Financial Protection Bureau’s complaint database.
Northpointe offers mortgage refinancing for qualified homeowners. You’d have to contact a loan advisor to go through options.
An initial payment made when the home is bought.
The amount of time you have to repay the mortgage.
The APR (annual percentage rate) you pay to the lender, which can be found in your loan agreement. The default displayed represents yesterdays national average APR for 30-year fixed mortgages.
